Analysts Set Corteva, Inc. (NYSE:CTVA) Target Price at $63.29

Shares of Corteva, Inc. (NYSE:CTVA) have been given an average recommendation of “Moderate Buy” by the twenty-one analysts that are presently covering the stock, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $63.38.

CTVA has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price objective on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research report on Friday. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and lifted their price target for the company from $57.00 to $65.00 in a research report on Monday, February 12th. UBS Group decreased their price objective on shares of Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Finally, Wolfe Research assumed coverage on shares of Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target on the stock.

Corteva Stock Up 0.3 %

CTVA stock opened at $57.17 on Friday. Corteva has a twelve month low of $43.22 and a twelve month high of $60.57. The firm has a market capitalization of $39.95 billion, a PE ratio of 72.35, a PEG ratio of 1.41 and a beta of 0.78. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The stock has a 50-day simple moving average of $55.33 and a two-hundred day simple moving average of $50.61.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.63%. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the company earned $1.16 earnings per share. Corteva’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, equities analysts predict that Corteva will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio is 81.01%.

Hedge Funds Weigh In On Corteva

Hedge funds have recently modified their holdings of the company. CVA Family Office LLC purchased a new position in Corteva during the 4th quarter valued at about $25,000. Redmont Wealth Advisors LLC purchased a new position in shares of Corteva during the first quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new position in shares of Corteva during the fourth quarter valued at approximately $27,000. Rise Advisors LLC lifted its stake in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the period. Finally, NewSquare Capital LLC boosted its holdings in Corteva by 70.6% in the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after acquiring an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Company Profile

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.